document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=957874>Question 957874</A>: <I><SPAN STYLE=\"word-break: break-all;\"> jasmine invests 7500 in an account paying 1.35 interest compounded monthly. How much is in the account after 6 years? show work\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #585370 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=585370\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> jasmine invests 7500 in an account paying 1.35 interest compounded monthly. How much is in the account after 6 years? show work<BR>\n" );
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document.write( "A(t) = P(1+(r/n))^(nt)<BR>\n" );
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document.write( "A(6) = 7500(1+(0.0135/12))^(12*6)<BR>\n" );
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document.write( "A(6) = 7500(1.00113)^72 = 7500*1.08432 = $8132.41<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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